Leaders of gas-exporting nations observe that the global energy map is undergoing a profound shift, one that is reshaping balances of power and establishing new economic terms for the coming decades.
Anniversary summit of the "gas OPEC" in Moscow
On October 27, the 8th Summit of the Gas Exporting Countries Forum (GECF) took place in Moscow, an organization frequently referred to as the "gas OPEC" that is now completing 25 years of operation. Twelve countries participate in the forum, including Russia, Qatar, Iran, and Algeria, while eight additional nations hold observer status. Collectively, members and participants of the forum represent 70% of proven global gas reserves, 38% of marketable production, and 47% of international exports of liquefied natural gas (LNG).
The presence of Russian President Vladimir Putin highlighted the political and economic gravity of the gathering. He emphasized that Russia is systematically advancing the reinforcement of its technological autonomy, expanding its domestic production capabilities and investing in LNG technologies that have already been put into application in the Arctic. Concurrently, Putin proposed intensifying consultations among GECF members to manage crises in the gas market. The objective, as he stated, is evaluating risks, including threats against energy infrastructure, as well as coordinating member countries' approaches to supply.
Unlike OPEC, the GECF does not set natural gas prices nor does it impose production quotas. Its role focuses on information exchange, discussing energy policy issues, and harmonizing positions among participating countries. This differentiation links to the specificities of the gas market, which traditionally relied on long-term contracts lasting 15 to 25 years, with prices indexed either to oil or to specific commercial hubs. Unlike the oil market, immediate adjustment of volumes supplied to the market or a fast switch of supplier is neither practically nor legally a simple matter. Nevertheless, both organizations present common characteristics, as the concentration of significant energy resources and key transport pipelines in GECF countries grants the forum substantial political influence.
Gas Bank proposal and protection from sanctions
The central text of the summit was the Moscow Declaration, through which natural gas was recognized not as a temporary or transitional energy solution, but as a core pillar of global energy and food security for the coming decades. Russia also advocated for the creation of a Gas Bank, which would provide long-term financing for gas infrastructure projects in Africa and other regions of the world. According to the proposal, its structure could follow the model of the BRICS New Development Bank, offering the ability to:
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Conduct cross-border payments outside the Western banking system and the SWIFT network.
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Finance investments utilizing national currencies.
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Restrict exposure of capital to risks associated with the imposition of sanctions.
The Russian model for the complete natural gas energy chain
The proposed financing model foresees that the bank will grant long-term loans, which will be utilized by Russian companies, such as Gazprom and Novatek, to construct pipelines, LNG terminals, and power plants. In this manner, Russia could secure long-term commercial agreements, while host countries receiving the investments would acquire infrastructure supporting their economic development. Simultaneously, Moscow maintains that it has achieved significant progress in replacing Western technologies and equipment with domestic solutions. This development, according to the Russian approach, enables the country to offer a complete chain of gas technologies, modeled after the structure it developed in the nuclear energy sector.
The capabilities outlined include:
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Software and geological modeling Adoption of Russian applications, such as RN-GRID and software by Gazprom Neft and Rosatom, for 3D reservoir visualization and hydraulic fracturing, as well as the deployment of domestic offshore exploration stations.
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Advanced drilling systems Development of domestic equipment for complex directional drilling and smart wells at depths of several kilometers.
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Subsea production Securing autonomous operation of seabed gas extraction systems.
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Equipment and transport infrastructure Replacement of Siemens and General Electric turbines with Russian constructions, as well as transitioning to domestic large-diameter pipes and insulating materials, including specialized piping capable of operating under ultra-high pressure on the seabed.
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Liquefaction technologies Development of domestic technologies, such as Novatek's Arctic Cascade and Arctic Mix, which utilize mixed refrigerants for large-scale natural gas liquefaction plants.
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Cryogenic equipment Enhancement of domestic manufacturing for large spiral heat exchangers and cryogenic pumps.
Based on this approach, Russia maintains that it can cover all stages of the natural gas chain—from design and drilling to extraction, transport, and liquefaction—using domestic equipment, turbines, and software. For nations of the Global South, such a proposal is presented as an opportunity to strengthen their technological independence from the US and the European Union.
LNG projected to dominate international trade
At the summit, GECF Secretary General Philip Mshelbila presented a long-term forecast according to which liquefied natural gas will account for approximately 64% of total international gas trade by 2050. Concurrently, Senegal announced its accession to the Gas Exporting Countries Forum, expanding participation in the organization further.
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